Suppose a division of New York Instruments Incorporated that sells computer microchips has these inventory records for January 2018: B (Click the icon to view the inventory records.) The company's accounting records show 330 units were sold for revenue of $6,600. Operating expense for January was $1,000. Read the requirements. Requirement 1. Prepare the company's January, multistep income statement. Calculate income using the LIFO, average-cost, and FIFO methods. Label the bottom line "Operating income." Round the average cost per unit to three decimal places and all other figures to whole-dollar amounts. Show your computations. Begin by preparing the income statement using LIFO, then average, and finally FIFO cost. New York Instruments Incorporated Income Statement for Microchip Month Ended January 31, 2018 LIFO Sales revenue Cost of goods sold Gross profit Operating expenses Operating income - X i Data Table Date Item Quantity Unit Cost Total Cost Jan 1 Beginning inventory 140 units $ 14 $ 1,960 6 Purchase 40 units 17 680 21 Purchase 150 units 17 2,550 27 Purchase 30 units 19 570 Print Done